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Ballard Power Systems Inc. Message Board

  • reviresco_1999 reviresco_1999 Apr 5, 2002 7:30 AM Flag

    Embargo

    Iran is calling for a one month oil embargo.

    Our leaders have had over 30 years since they first did an oil embargo and we are probably more dependent on their oil now then then.

    Write your suppopsedly representative's and senators and tell them to get us off this need for oil and into hydrogen. NOW! FINALLY!

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    • Oil prices surge as Opec claims
      it is powerless to intervene

      By Philip Thornton

      05 April 2002

      Oil prices soared back to six-month
      highs yesterday as Opec, the oil
      producers' cartel, said it was powerless
      to control a speculative surge on the
      back of the crisis in the Middle East.

      Ali Rodriguez, the secretary-general of Opec, said that current
      levels of crude oil supply by the 10 member nations were
      "satisfactory". "We have to wait and see the situation because if we
      increase production now and the situation returns to normal maybe
      we can face a collapse of prices," he told BBC radio.http://www.independent.co.uk/story.jsp?story=281663
      Iraq lobbies Arab world to cut oil
      exports to US

      By Patrick Cockburn

      05 April 2002

      Iraq is once again presenting itself as the patriotic bastion of the
      Arab world by sending a draft resolution to the Arab League asking
      oil producers to cut off supplies to America inresponse to the
      military campaign being orchestrated by George Bush to topple
      Saddam Hussein.

      Saudi Arabia and the Gulf states are unlikely to join any embargo,
      but the sense that the Middle East crisis is spiralling out of control
      is keeping oil prices at a six-month high despite weak consumption
      and high oil stocks.

      Adam Sieminski, of Deutsche Bank Securities, said: "First Iraq and
      nowIsrael/Palestine have added a $6 [�4] a barrel to oil
      pricesbeyond what we think supply, demand and inventories
      warrant." North Sea Brent hit a six-month high of $27.68 a barrel on
      Tuesday, having risen from $20 at the beginning of March.

      Paul Horsnell, of the investment bank JP Morgan, said: "The
      combination of fundamental, macroeconomic, political and military
      factors is rapidly creating an oil market version of the perfect storm.http://news.independent.co.uk/world/politics/story.jsp?story=281706
      Strap in tightly, this could get rough."

 
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